Nigerians looking to embark on construction projects can breathe a sigh of relief. Cement prices, which had skyrocketed earlier this year, have seen a significant drop in recent months.
Following a government intervention and decreased demand, a 50kg bag of cement is now selling between N7,000 and N8,000 depending on location. This marks a welcome change from the peak price range of N10,000 to N15,000 witnessed in February and March.
Major cement producers like Dangote and BUA have agreed to adhere to this new pricing structure.
Here’s a quick breakdown of the current market situation:
- Price Range: N7,000 – N8,000 per 50kg bag
- Reason for Decline: Government intervention and reduced demand
- Benefits: Increased affordability for construction projects
While there may be slight variations depending on the brand and location, this price range offers a much more accessible entry point for those in the construction sector.
However, it’s important to note that these are general prices. For the most accurate information, it’s recommended to contact local retailers in your area.
